Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Housing Market Overview
| Metric | Egypt Lake-Leto | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $433,361 | $293,727 | $242,182 |
| Price Trend (Annual %) | 33.5% | 12.0% | 8.2% |
| Median Gross Rent | $1,422 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 6.6% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Egypt Lake-Leto is about 48% higher than in Florida. Rent is about 9% lower than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Egypt Lake-Leto, up about 33.5% and 6.6% a year respectively. Home prices are changing faster.
Median rent in Egypt Lake-Leto rose about 61.3% between 2015 and 2023, from $882 to $1,422. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 8.0 yearly household incomes in Egypt Lake-Leto.
Buying the median-priced home in Egypt Lake-Leto costs roughly 25.4 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Egypt Lake-Leto. The price-to-rent ratio in Florida is about 15.7.
| Metric | Egypt Lake-Leto | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $433,361 | $293,727 | $242,182 |
| Median Household Income | $54,389 | $71,865 | $78,145 |
| Price-to-Income Ratio | 8.0 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Egypt Lake-Leto rose about 296.0%, while median household income rose about 45.1% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Egypt Lake-Leto | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 40.9% | 57.1% | 58.2% |
| Rental Rate | 51.4% | 27.7% | 31.3% |
| Vacancy Rate | 7.7% | 15.2% | 10.6% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Egypt Lake-Leto has a homeownership rate of 40.9%, lower than the Florida average of 57.1%. Its housing vacancy rate is 7.7%, compared with 15.2% in Florida.
Housing Stock
| Metric | Egypt Lake-Leto | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.58 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1979 | 1987 | 1978 |
| Median Number of Rooms | 4.4 | 5.2 | 5.5 |
The typical housing unit in Egypt Lake-Leto was built around 1979. On average, 2.6 people live in a home with about 4.4 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Egypt Lake-Leto, Florida.
What is the median home price in Egypt Lake-Leto, Florida?
The median home price in Egypt Lake-Leto, Florida is $433,361, higher than the Florida average of $293,727.
What is the average home price in Egypt Lake-Leto, Florida?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Egypt Lake-Leto, Florida?
The median gross rent in Egypt Lake-Leto, Florida is $1,422 per month, lower than the Florida average of $1,564.
What was the median gross rent in Egypt Lake-Leto in 2020?
In 2020, the median gross rent in Egypt Lake-Leto, Florida was $1,077 per month.
What is the price-to-rent ratio in Egypt Lake-Leto, Florida?
The price-to-rent ratio in Egypt Lake-Leto, Florida is about 25.4, meaning it would take roughly 25.4 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Egypt Lake-Leto.
Are home prices or rent rising faster in Egypt Lake-Leto, Florida?
Both home prices and rent are rising in Egypt Lake-Leto, up about 33.5% and 6.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Egypt Lake-Leto, Florida?
40.9% of households in Egypt Lake-Leto, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Egypt Lake-Leto, Florida?
The housing vacancy rate in Egypt Lake-Leto, Florida is 7.7%, lower than the Florida average of 15.2%.